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Boston Rental Market 2025: Why Apartment Vacancies Are Rising

The Boston rental market in 2025 looks different than in prior years. Traditionally one of the tightest housing markets in the U.S., Boston is now seeing higher apartment vacancies and slower lease-ups across many neighborhoods.

According to Carl Christie of Hunneman Commercial Real Estate, who has specialized in investment property disposition for over 29 years, several structural changes are reshaping Boston’s housing dynamics.

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Key Factors Behind Higher Vacancies in Boston

1. Fewer International Students

Boston’s world-class universities typically attract tens of thousands of international students each year. These students have always been a major driver of rental demand. However, immigration restrictions during the Trump administration reduced the number of foreign students, and levels have not fully rebounded. As Christie notes, this has kept Boston student housing demand below its long-term historical average.

2. Biomedical Industry Slowdown

Boston’s reputation as a global biomedical and biotech hub has fueled demand for rentals near Kendall Square, the Seaport, and Longwood Medical Area. But recent layoffs, reduced venture funding, and hiring freezes in biotech have slowed this engine of demand, creating more vacant apartments in Boston than landlords are accustomed to.

3. Remote Work and Hybrid Lifestyles

The pandemic normalized hybrid and remote work. Many young professionals no longer feel the same need to live near Boston’s downtown offices. Instead, they’re relocating to suburbs or even out of state in search of more space and lower costs. This trend is leaving behind more Boston apartments available for rent in urban core neighborhoods.

4. New Supply Entering the Market

Boston has added thousands of new multifamily units in recent years, especially in the Seaport, South Boston, and East Boston. Even a modest dip in demand can translate into higher vacancy rates in Boston apartments when so much new supply hits the market.

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What This Means for Renters and Landlords

• For Renters: More inventory means better choices and potential bargaining power. Renters searching for apartments in Boston 2025 may find concessions like a free month of rent, reduced deposits, or luxury amenities at lower effective prices.
• For Landlords: Owners may need to adapt pricing strategies, offer incentives, or improve amenities to stay competitive in a market where renters have more options.

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Expert Perspective

With nearly three decades of experience brokering multifamily, retail, and office buildings, Carl Christie, Executive Vice President at Hunneman Commercial Real Estate, has witnessed Boston’s housing cycles firsthand.

Christie has consistently delivered record-breaking results for clients across Greater Boston, Massachusetts, New Hampshire, and Rhode Island. Recognized 12 times as Broker of the Year at Hunneman and ranked among the top 10 producers worldwide out of over 7,000 professionals during Hunneman’s NAI Global affiliation, Christie’s perspective carries weight in today’s market.

“Boston’s long-term fundamentals remain solid,” says Christie. “Education, healthcare, and technology will continue to anchor demand. But in the near term, landlords need to adapt. Renters now have more leverage than in years past.”

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The Outlook for Boston Real Estate

Despite today’s higher vacancies, Boston’s long-term story is unchanged. The city remains one of the most desirable places to live, work, and invest. Over time, strong demand drivers will stabilize the market.

For now, however, the Boston housing market 2025 reflects a period of adjustment — one where renters benefit from more choices and landlords must work harder to attract tenants.

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📞 Contact Information
Carl Christie
Executive Vice President, Investment Sales & Capital Markets
Hunneman Commercial Real Estate
📧 cchristie@hunnemanre.com | ☎ 617-457-3394

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Boston rental market 2025: Carl Christie of Hunneman Commercial RE explains rising vacancies, foreign student shifts, biotech slowdown & remote work trends.

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